WEBVTT TUMBLEWEED OWES THE WATERFRONT DEVELOPMENT CORPORATION NEARLY SIXTY-THOUSAND DOLLARS IN UN-PAID RENT. AND NOW THE RESTAURANT SAYS ITS LANDLORD IS THREATENING TO EVICT. WLKY'S ERICA COGHILL HAS BEEN LOOKING INTO THE STORY. SHE NOW JOINS US LIVE FROM WATERFRONT PARK WITH THE DETAILS. ERICA? VICKI, RICK, THERE ARE THREE PARTIES INVOLVED HERE-- TUMBLEWEED, THE WATERFRONT DEVELOPMENT CORPORATION WHICH OWNS THE PROPERTY HERE AND A COMPANY CALLED WATERWEED, WHICH HELPED FINANCE THE RESTAURA NT BUILDING. TUMBLEWEED PAYS RENTS TO BOTH WATERWEED AND THE WATERFRONT DEVELOPMENT CORPORATION... WHICH SAYS IT HASN'T BEEN PAID SINCE MAY. SINCE 2005 TUMBLEWEED HAS BEEN IN OPERATION HERE AT THE WATERFRONT PARK. AS PART OF THE LEASE AGREEMENT, THE RESTAURANT CHAIN PAYS THE WATERFRONT DEVELOPMENT CORPORATION THREE AND A HALF PERCENT OF IT'S GROSS MONTHLY SALES... BUT RENT WAS DUE IN JULY AND THE WATERFRONT SAYS TUMBLEWEED HASN'T PAID- UP. "11:10:11 We are quickly approaching the end of the 2nd quarter, the next quarter that it is due which ends this friday 20" THE QUARTERLY PAYMENTS ARE DUE EVERY THREE MONTHS. CORDELL LAWRENCE IS THE WATERFRONT DEVELOPMENT CORPORATION'S FINANCE DIRECTOR. HE SAYS IF FRIDAY ROLLS AROUND AND NO MONEY ROLLS IN, TUMBLEWEED WILL BE BEHIND ON PAYMENTS BY ABOUT SIXTY-THOUSAND DOLLARS. THAT MONEY GOES TO THE OPERATION OF WATERFRONT PARK. "11:14:45 it becomes even that much more critical to our on-going operation that we can't foresee not having this rent paid 54" ...LAWRENCE SAYS ESPECIALLY AFTER THE STATE RECENTLY CUT MORE THAN 420-THOUSAND DOLLARS FROM THE WATERFRONT DEVELOPMENT CORPORATION'S BUDGET. SO WHY HASN'T TUMBLEWEED MADE THE PAYMENTS? "11:11:20 The communication we have received from them is to let us know that sales are not what they think they need to be so I get the impression they are struggling 33" TUMBLEWEED SAYS THAT'S NOT THE CASE, RATHER IT'S NOT SATISFIED WITH THE CURRENT LEASE AGREEMENT. IN A STATEMENT THE RESTAURANT CHAIN SAID... "Tumbleweed has sought vigorously to negotiate more favorable terms for the lease, which is set to renew in July 2015. Tumbleweed has used lease payment holdbacks to WaterWeed, LLC as part of their negotiating strategy, though all payments are current through August 2014." FOR NOW, IT'S A WAITING GAME. LAWRENCE SAYS THERE IS A CHANCE TUMBLEWEED MIGHT NOT BE HERE IN THE FUTURE. "11:19:07 Yes, if they cannot fulfill their financial obligations 13" FOR NOW-- THE WATERFRONT DEVELOPMENT CORPORATION SAYS IT WILL NOT BE TAKING ACTION. I CONTACTED "WATERWEED" FOR COMMENT BUT DID NOT HEAR BACK. LIVE AT WATERFRONT PARK, EC, WLKY NEWS. IN A STATEMENT, TUMBLEWEED'S PRESIDENT AND C-E-O, MATT HIGGINS, SAID... "WE EXPECT THE NEGOTIATIONS TO CONTINUE. NO CHANGE IN OPERATIONS IS ANTICIPATED, BUT THE CURRENT LEASE STRUCTURE MAKES IT IMPOSSIBLE TO OPERATE THAT FACILITY IN A PROFITABLE MANNER." AN INDIANA WOMAN MISSING